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Australia announces historic defence spending boost
Published 1 week ago
Description
The Albanese government announces a $53 billion increase in defence spending over the next decade, bringing expenditure to 2.8% of GDP and targeting 3% by 2033. Defence Minister Richard Marles describes this as the biggest peacetime increase in Australia's history, citing deteriorating strategic circumstances driven by China's strengthening relationship with Russia and growing nuclear arsenals. The announcement comes amid heightened strategic competition between the United States and China in the Indo-Pacific region.
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